Summary

Working gas in storage was 2,974 Bcf as of Friday, December 27, 2013, according to EIA estimates. This represents a net decline of 97 Bcf from the previous week. Stocks were 562 Bcf less than last year at this time and 289 Bcf below the 5-year average of 3,263 Bcf. In the East Region, stocks were 226 Bcf below the 5-year average following net withdrawals of 67 Bcf. Stocks in the Producing Region were 27 Bcf below the 5-year average of 1,088 Bcf after a net withdrawal of 13 Bcf. Stocks in the West Region were 36 Bcf below the 5-year average after a net drawdown of 17 Bcf. At 2,974 Bcf, total working gas is within the 5-year historical range.

We believe that by working with an unbiased energy consultant, companies can better navigate though volatile markets, price swings, and overall uncertainty.

We recognize several trends in the energy industry. Deregulation in both electricity and gas markets continues to spread state by state as consumers and governments recognize the benefits of competive energy markets. We believe that this will continue as regulators are able to tailor market designs to best meet the needs and requirements of its participants. Additionally, the shift towards renewable energy projects continues to be bolstered by private investments, mostly in states with relaxed electricity structures. This indirectly benefits our industry by shifting the reliability of energy supply to domestic resources. Finally, the higher cost of energy over the past couple decades has required new ideas to be formulated in order to help contain prices.